Federated Hermes Inc. Purchases New Shares in Bausch Health Cos Inc. (NYSE:BHC)

Key Points

• Federated Hermes Inc. has acquired 117,170 shares of Bausch Health Cos Inc. (NYSE:BHC) valued at approximately $758,000 in the first quarter.
• Insider purchases have increased significantly, with Director John Paulson acquiring over 3.5 million shares, boosting his stake by 12.19%.
• Bausch Health reported earnings per share of $0.90 for the last quarter, falling short of the consensus estimate by $0.07, despite revenues exceeding expectations at $2.57 billion.

Federated Hermes Inc. purchased a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 117,170 shares of the company's stock, valued at approximately $758,000.

A number of other large investors have also recently modified their holdings of BHC. SBI Securities Co. Ltd. grew its stake in Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock worth $27,000 after buying an additional 3,001 shares in the last quarter. Wealthquest Corp bought a new position in shares of Bausch Health Cos during the 1st quarter valued at $58,000. Bank of Nova Scotia bought a new position in shares of Bausch Health Cos during the 4th quarter valued at $83,000. One68 Global Capital LLC bought a new position in shares of Bausch Health Cos during the 4th quarter valued at $90,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Bausch Health Cos during the 4th quarter valued at $97,000. Institutional investors own 78.65% of the company's stock.

Bausch Health Cos Trading Up 2.2%

Bausch Health Cos stock traded up $0.15 during trading hours on Tuesday, reaching $6.81. The stock had a trading volume of 1,109,584 shares, compared to its average volume of 2,416,171. The stock has a market cap of $2.52 billion, a PE ratio of 26.17 and a beta of 0.41. Bausch Health Cos Inc. has a 52 week low of $4.25 and a 52 week high of $9.85. The company has a debt-to-equity ratio of 141.90, a current ratio of 1.31 and a quick ratio of 0.98. The company has a fifty day simple moving average of $6.15 and a 200-day simple moving average of $6.01.

Bausch Health Cos (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. Analysts forecast that Bausch Health Cos Inc. will post 4.41 EPS for the current fiscal year.

Insider Activity at Bausch Health Cos

In related news, Director John Paulson bought 3,564,059 shares of the company's stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $5.94 per share, with a total value of $21,170,510.46. Following the transaction, the director owned 32,791,702 shares in the company, valued at approximately $194,782,709.88. This trade represents a 12.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 6,352,667 shares of company stock valued at $35,870,767. Company insiders own 8.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen raised Bausch Health Cos from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

About Bausch Health Cos

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.